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Little Bets: How breakthrough ideas emerge from small discoveries
by
Peter Sims
How can errors produce perfection?
How can failure fuel ambition?
How can confusion enhance creativity?
The answer: little bets.
The little bets approach is about using negativity to positive effect. If your plans fall apart, refine them; if you don't know where best to begin, just begin somewhere. Every decision is a risk: take a chance and see what happens.
In Little Bets, be...more
How can failure fuel ambition?
How can confusion enhance creativity?
The answer: little bets.
The little bets approach is about using negativity to positive effect. If your plans fall apart, refine them; if you don't know where best to begin, just begin somewhere. Every decision is a risk: take a chance and see what happens.
In Little Bets, be...more
Paperback, 224 pages
Published
May 5th 2011
by Random House Business
(first published April 5th 2011)
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Some take-aways that I appreciated:
- Ask people what they think before you have a professional looking model. Create something out of cardboard or duct tape (everyone's favorite). People feel more free to make recommendations or give honest input when they see it's a work in progress.
- When people provide feedback, there's no penalty. Create an atmosphere where it's okay to disagree. Humor is key. Too bad I'm not funny.
- Success hides problems. (This makes a lot of sense to me)
- When going s...more
- Ask people what they think before you have a professional looking model. Create something out of cardboard or duct tape (everyone's favorite). People feel more free to make recommendations or give honest input when they see it's a work in progress.
- When people provide feedback, there's no penalty. Create an atmosphere where it's okay to disagree. Humor is key. Too bad I'm not funny.
- Success hides problems. (This makes a lot of sense to me)
- When going s...more
This was a fascinating little book. It pulls from numerous studies, books, and real life examples to make a most convincing case.
Overlooked I think were the differences between self identified lucky and unlucky people. The study had the two groups count the number of pictures in a newspaper. It took the unlucky group on average 2 minutes while the lucky group finished the task in seconds. What could possibly explain the difference in performance? Turns out on page two which had a picture that t...more
Overlooked I think were the differences between self identified lucky and unlucky people. The study had the two groups count the number of pictures in a newspaper. It took the unlucky group on average 2 minutes while the lucky group finished the task in seconds. What could possibly explain the difference in performance? Turns out on page two which had a picture that t...more
It’s a wonderful book. I highly recommend it to anyone who is curious about why some people, businesses and ideas succeed and others don’t. Sims’ theory is that taking small, methodical steps, failing often, embracing failure and then making necessary corrections has allowed successful individuals and organizations to reap unintended windfalls and achieve extroardinary outcomes.
One of the many examples Sims uses throughout the book is Chris Rock. His stand-up specials are sharp, Sims writes, bec...more
One of the many examples Sims uses throughout the book is Chris Rock. His stand-up specials are sharp, Sims writes, bec...more
Little bets is an accessible and well-written book that straddles the fuzzy boundaries between creativity research, corporate innovation, and design thinking. Although Sims' writerly approach doesn't perceptly differ from many others in this crowded segment (à la Gladwell) there is something affectionately intelligent in his tone of voice that made me want to read on. Also in terms of subject matter, the book delivers few, if any, really novel insights. But still, I found Sims' plea for a cultur...more
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Was blown away by this little book. It starts with talking about Chris Rock, Brin & Page, Bezos and Beethoven and how they do things to discover what they should do. At the core little bets is an experimental approach where you take actions to discover, test and develop ideas that are achievable and affordable. The book then takes of with the section about static vs growth mindset. As a parent I found this section very valuable and I had a long discussion around this with my son Bill. Then c...more
Apr 25, 2013
Clif Hostetler
rated it
3 of 5 stars
·
review of another edition
Shelves:
current-events
The "little bets" referenced by the book's title are low-risk actions taken to discover, develop, and test an idea that represent a potentially better way to do something. Numerous low-risk trials can allow appropriate mid-step adjustments and changes that can improve the prospects of success. Failures that occur along the way can be accepted as positive feedback that point toward a change in direction or perhaps ending the proposed venture before large financial losses are experienced.
There's r...more
There's r...more
If you are the kind who actively seeks out advice on how to succeed, you won't be surprised at the advice Peter Sims has given. I most certainly was delighted by how having the mindset is so vital in succeeding in your endeavors.
In this book, there are a few mindsets, namely
1) Making little bets so that you can make big bets
2) Cultivating a growth mindset - To deal with failure / obstacles
3) Being proactive - Proactively failing so that you can learn faster
4) Knowing how to play - To make each...more
In this book, there are a few mindsets, namely
1) Making little bets so that you can make big bets
2) Cultivating a growth mindset - To deal with failure / obstacles
3) Being proactive - Proactively failing so that you can learn faster
4) Knowing how to play - To make each...more
Same concept as Jim Collins's "Fire Bullets, Then Cannonballs" in Great By Choice.
Big Bets Versus Little Bets
The Growth Mind-Set (vs the fixed mind-set - always learning)
Failing Quickly to Learn Fast
The Genius of Play (improvisation leads to creativity)
Problems Are the New Solutions (constraints shape and focus problems and provide clear challenges to overcome)
Questions Are the New Answers (ask questions of your customers, experience the user experience first-hand and let them help solve their o...more
Big Bets Versus Little Bets
The Growth Mind-Set (vs the fixed mind-set - always learning)
Failing Quickly to Learn Fast
The Genius of Play (improvisation leads to creativity)
Problems Are the New Solutions (constraints shape and focus problems and provide clear challenges to overcome)
Questions Are the New Answers (ask questions of your customers, experience the user experience first-hand and let them help solve their o...more
I finally read another book. I'm really proud of myself. It only took a month to get through 160 pages.
Anyways, though, this book's fine. I like the attitude of books like this, though the content never really set me on fire -- this guy seems to have interviewed like 6 subjects and just reintroduces them constantly, especially Pixar. (Every chapter, each of which teaches a supposedly different lesson, will have a moment like "....FOR INSTANCE AT PIXAR" or "...REMEMBER AT PIXAR WHEN..."). The mes...more
Anyways, though, this book's fine. I like the attitude of books like this, though the content never really set me on fire -- this guy seems to have interviewed like 6 subjects and just reintroduces them constantly, especially Pixar. (Every chapter, each of which teaches a supposedly different lesson, will have a moment like "....FOR INSTANCE AT PIXAR" or "...REMEMBER AT PIXAR WHEN..."). The mes...more
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This book is about using small failures to define the path to large successes.
It's OK to feel around in the dark with the only plan to move forward once the path becomes clear. This is not a passive strategy by any means; but it respects that you can't plot a straight course from where you are to where you want to be, and that this is acceptable.
"The best way to predict the future is to invent it." -- Alan Kay, technologist & inventor
I had an epiphany while reading it; I left a job of 18 yea...more
It's OK to feel around in the dark with the only plan to move forward once the path becomes clear. This is not a passive strategy by any means; but it respects that you can't plot a straight course from where you are to where you want to be, and that this is acceptable.
"The best way to predict the future is to invent it." -- Alan Kay, technologist & inventor
I had an epiphany while reading it; I left a job of 18 yea...more
It was a nice read that really collected the broadest collection of design and innovation material I've read in any book. It actually felt like a collection of all the design thinking and innovation reading I've done in the past few years.
It covered stuff like improvisation in business, design thinking, agile software development, prototyping, ethnography studies, military strategy, problem framing, and opening up socially to new possibilities.
Is it clear to me how to take a "little bets" approa...more
It covered stuff like improvisation in business, design thinking, agile software development, prototyping, ethnography studies, military strategy, problem framing, and opening up socially to new possibilities.
Is it clear to me how to take a "little bets" approa...more
The best sound bites from this book are in the first 80 pages. And when the author is on target, he is ON TARGET. If you stay in plan mode and put too much effort and expense into a big bet, you risk losing big. If you jump into action mode and let the payoffs and losses from small bets inform a path to a big goal, you build momentum you really can't get any other way. I appreciate the examples from many different perspectives (including business, architecture, military, stand-up comedy).
The re...more
The re...more
A short and easy read. Rather repetitive and predictable, but my work paid for it, so can't complain really.
The information on Pixar was the most interesting to me. Also, how being lucky was a state of mind. That was really helpful, as I always thought I was just unlucky.
I do think the book would be better if there were more examples. Also, if there were more details on how we coud implement this is on personal lives. It needs more application. Maybe if he (the author) had performed an experime...more
The information on Pixar was the most interesting to me. Also, how being lucky was a state of mind. That was really helpful, as I always thought I was just unlucky.
I do think the book would be better if there were more examples. Also, if there were more details on how we coud implement this is on personal lives. It needs more application. Maybe if he (the author) had performed an experime...more
This is an easy read and a worthy one. I gave it only 3 stars because, well, it's a self-help book, and how interesting can that be, right? But, it does offer a critique, mostly between the lines, of how our system of education limits our ability to think outside of existing, often faulty, schema, and why it is that private industry taking over research, especially medical research, is a pretty bad idea, all while offering a provocative set of ideas about creativity and discovery that are useful...more
This book collects a lot of design thinking principles together under the umbrella of "little bets," i.e. prototyping and the "fail early and often" idea. There are basically just a few case studies that get brought up repeatedly (Pixar, The Sketches of Frank Gehry, Chris Rock) but a smattering of interesting other research comes up too. Like how lucky people actually just are more open-minded/observant. So it's Malcolm Gladwell -esque but the fact that I found myself most skimming is a sign tha...more
While reading the first chapter, I thought that this was just a rehash of other books that I read due to the examples:Chris Rock, Mozart,Google. As I moved through the book, I was pleased that Sims had a number of fresh examples about Pixar, HP, Obama,General McMaster,the architect Frank Gehry,Steve Jobs, Tim Russert and Agile development of Software. Sims who has a VC background did a good job of interviewing and researching. The book narrative is 150 pages which to me is just right. I like tha...more
Cool concept, not very detailed--
The book's concepts are all cool and interesting.
The book combines the findings of Carow Dweck (fixed vs. growth mindsets), Eric von Hippel (active users and innovation), Csikszentmihalyi (problem finders vs. problem solvers), Richard Wiseman (being open to experiences increases your luck), and other research and innovations in psychology, economics, and business.
The concept of little bets is basically this: creative things emerge from random, non-linear, unpredi...more
The book's concepts are all cool and interesting.
The book combines the findings of Carow Dweck (fixed vs. growth mindsets), Eric von Hippel (active users and innovation), Csikszentmihalyi (problem finders vs. problem solvers), Richard Wiseman (being open to experiences increases your luck), and other research and innovations in psychology, economics, and business.
The concept of little bets is basically this: creative things emerge from random, non-linear, unpredi...more
This book centers around the idea that innovations can be derived through giant leaps and small iterations, but that it is the small bets that are in reach for most of us. Peter starts by outlining the importance of a growth versus fixed mindset; to recognize that intelligence can be developed and to embrace challenges, persist in the face of setbacks, learn from criticism and find lessons and inspiration in the success of others. Peter notes that praising ability alone reduces persistence, whil...more
I just finished Little Bets by Peter Sims. The book deals with innovation as an incremental activity and gives examples from the world of Pixar, Chris Rock, Amazon and a host of other famous people and institutions. The thesis is that innovation is successful when it is the practice of repeated trial and experiment. This is not the small innovation of line extensions, but real pushes by small steps in new directions. Even after a short exposé the case is compelling. But there is another thing in...more
A very quick read with interesting stories and insights. The main take-home points, little bets to innovation, openness to experience, and having a growth mindset. Enjoyed hearing about the Pixar's genesis as a computer company, Starbucks as a place where everyone wore bowties, opera music played non-stop, and there were no chairs. The use of anthropologists in the new tactics of warfare was also interesting. Kudos, Sims!
Apr 24, 2013
Naomi King
rated it
4 of 5 stars
·
review of another edition
Shelves:
business,
educational-theory-practice
Sims introduces the connections between innovation and creativity and small risks and small wins. The antithesis of major productions, market research, and big elaborate plans, little bets encourage flexibility and innovation because they permit failing fast and learning from that failure until reaching the entrepreneurial solution. With lots invested up front, risk aversion rises. With little bets that create small wins, risk aversion declines. Recommended.
This book promotes the idea of experimentation and discovery to succeed. It's valuable for the stories and the suggested reading list, but the message seems relatively obvious for anyone that's studied practical entrepreneurship. Additionally, much of the book is taken from other books without adding significant value. Although an easy read and useful, readers would be better served by reading the original sources.
This is a little book with a big message - people who are willing to make small commitments to an idea or policy are more successful than those who make big commitments. They learn by making adjustments to their directions over time. Sims offers are series of examples from comedians to techies who use this strategy to improve their craft. This is a quick read but quite useful.
The cliff's notes version tells you all you need to know: make more small experiments to find the right solution, fail quickly (find out as quickly as possible if a solution won't work, and abandon it as soon as you do), choose your "bets" on what you can afford to invest in learning something rather than on the expected return. There's more, but not much.
Fantastic book on the process of success through little risks/bets and failures. The author did a remarkable job of melding examples from all angles: the comedy of Chris Rock, the architecture of Frank Gehry, the political analysis of Tim Russert, the near-fall and rise of Pixar, and more.
The most fascinating part of this book is his review and discussion of the fixed vs growth mind set. The amount of research he shared and his analysis combined with the researchers' own discoveries are extreme...more
The most fascinating part of this book is his review and discussion of the fixed vs growth mind set. The amount of research he shared and his analysis combined with the researchers' own discoveries are extreme...more
Confirmation of the importance of asking the right questions from curiosity... being open to failing fast to learn more and taking many, many small steps and observing like a hawk. Good read especially if you need to be reminded that not all success comes from cultures that are watershed, top down machines of efficiency and process
Good book. I like the premise and reminder of looking for small connections that lead to innovation....and practicing in small arenas where you can learn from your mistakes quickly in order to move on and grow and improve. There are some great references and stories and examples of innovators who were willing to learn. I like the tie to anthropology and social science and how people use their diverse experiences to make connections and create something new, as well as the examples of people talk...more
A very interesting and accessible book, of a similar style to Dan Pink's Drive or either of the books from Chip and Dan Heath. The core idea is pretty straightforward but the evidence and stories supporting it in the book make for enjoyable reading. I particularly like the exploration of mindset and education.
Great book. As we move more to an iterative work environment including using Agile, PMAS, and other short duration methodologies the tools in this book become more relevant and valuable. You can beneficially apply his principals across most disciplines and expect solid results.
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